/CL

More lawn mowing musings from the weekend. After reviewing oil trades from the last year realized all the losses were because 1 side was always run over on the strangles or IC. If I had just paid attention to direction almost all of them would have been profitable. Oil is still moving up but much more slowly and my indicators are pointing to slowing momentum and seasonality effects should also kick in. Not giving up on oil, I see the potential profits but will be much more aggressive managing these either by converting to spreads quickly or rolling the losing side out quickly.

With that in mind, sold the 45 DTE 64 put last night at 0.29. The pause this morning sold the other side 84.5 call 44 DTE for .022 for the 64/84.5 strangles.

Bistro VIX Indicator for Tuesday 11/20

Tuesday’s levels to watch: further Downside Warnings would fire with closes at 22.20 and 22.68. The warning would be canceled with a close at or below 14.89, or an SPX high above 2,940.91. Click here for more info on the VIX Indicator.

Bistro #SPXcampaign Positions

Updated after the close on 9/18

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